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Welcome to the latest market update for Western Loudoun County! In this post, we break down everything you need to know about the current real estate trends in the area. As always, I’m Diana Geremia, your trusted Real Estate Agent with Long & Foster, and I'm here to guide you through the complexities of the market.
Current Market Overview
In Western Loudoun County, 111 homes are listed as active or coming soon, down from 126 just 30 days ago. For homeowners, this means reduced competition, which can be advantageous when listing their property.
Under Contract and Pending Sales
Over the past 30 days, 36 homes went under contract, slightly increasing from 30 homes in the previous period. This uptick in activity reflects steady buyer interest despite the season.
Closed Sales
We saw 31 homes close in the last 30 days, compared to 50 in the previous month. This decrease aligns with the seasonal trend of slower holiday market activity.
Days on Market
The average days on the market for properties are 34, up from 24 days a month ago. While this increase might seem significant, it’s worth noting that homes in good condition and priced competitively are still selling quickly.
List Price to Sale Price Ratio
On average, sellers achieve 100% of their asking price. Fifty percent of homes sell at or above their listed price, making this a substantial market for sellers.
Leesburg Market Trends
In Leesburg, 90 homes are active or coming soon, down from 117 homes 30 days ago. Meanwhile, 70 homes went under contract in the past 30 days, with 99 homes closing—an increase from 89 in the previous period.
Loudoun County-Wide Trends
Across Loudoun County, 446 homes are active or coming soon, a decrease from 533 last month. There are 283 homes under contract and pending sales, and 360 homes have closed, down from 435. These shifts are typical for the holiday season.
Our market remains steady, with brisk sales and engaged buyers. As we move into the new year, we anticipate increased activity, especially if interest rates continue to ease. If you have questions about how your home fits into today’s market, feel free to reach out!
I’m Diana Geremia, a dedicated Real Estate Agent specializing in Western Loudoun County real estate. Let me help you navigate the market with confidence.
